Universal Health Services, Inc. Completes Acquisition of Two Behavioral Health Facilities and Promotes Debra K. Osteen to Senior Vice President
20 Dec, 2005, 00:00 ET from Universal Health Services, Inc.
KING OF PRUSSIA, Pa., Dec. 20 /PRNewswire-FirstCall/ -- Universal Health
Services, Inc. (NYSE: UHS) announced today that it has acquired the Center for
Change, a 58-bed facility located in Orem, Utah. The Center for Change
specializes in eating disorder services and provides acute and residential
services to female patients on a national basis. The Company also announced
that last month it acquired the Wyoming Behavioral Institute, a 70-bed
facility located in Casper, Wyoming. The Wyoming Behavioral Institute provides
a continuum of behavioral health programs and services including acute,
residential, partial and outpatient services for children, adolescents and
adults. These two acquisitions are expected to generate approximately $19
million of annual revenue and the combined purchase price of approximately $30
million was paid in cash.
Debra K. Osteen, President of Universal Health's Behavioral Health
division said, "We are very happy to announce the addition of these two
facilities and to welcome them to the UHS family. The acquisition of Wyoming
Behavioral Institute allows UHS to enter a new state and we are looking
forward to expanding the facility and growing services for Wyoming residents.
The acquisition of the Center for Change is an excellent complement to our
existing specialty focus in the behavioral health division."
UHS also announced that the Board of Directors has elected Ms. Osteen a
Senior Vice President of the Company. Alan B. Miller, Chairman of the Board,
President and CEO cited her "outstanding leadership in directing the most
extensive and successful behavioral health network in the nation." The
behavioral health division now numbers 105 facilities with 6,322 beds and
includes 48 hospitals and outpatient facilities, 31 residential treatment
centers, 23 overnight and day schools and 3 detention centers.
Universal Health Services, Inc. is one of the nation's largest hospital
companies, operating acute care and behavioral health hospitals, ambulatory
surgery and radiation centers nationwide. It acts as the advisor to Universal
Health Realty Income Trust, a real estate investment trust (NYSE: UHT).
Certain statements in this release may constitute forward-looking
statements and are subject to various risks and uncertainties as discussed in
the Company's filings with the Securities and Exchange Commission. The
Company is not obligated to update these forward-looking statements even if
the Company's assessment of these risks and uncertainties changes.
For additional information on the Company, visit our web site:
http://www.uhsinc.com.
SOURCE Universal Health Services, Inc.
KING OF PRUSSIA, Pa., Dec. 20 /PRNewswire-FirstCall/ -- Universal Health
Services, Inc. (NYSE: UHS) announced today that it has acquired the Center for
Change, a 58-bed facility located in Orem, Utah. The Center for Change
specializes in eating disorder services and provides acute and residential
services to female patients on a national basis. The Company also announced
that last month it acquired the Wyoming Behavioral Institute, a 70-bed
facility located in Casper, Wyoming. The Wyoming Behavioral Institute provides
a continuum of behavioral health programs and services including acute,
residential, partial and outpatient services for children, adolescents and
adults. These two acquisitions are expected to generate approximately $19
million of annual revenue and the combined purchase price of approximately $30
million was paid in cash.
Debra K. Osteen, President of Universal Health's Behavioral Health
division said, "We are very happy to announce the addition of these two
facilities and to welcome them to the UHS family. The acquisition of Wyoming
Behavioral Institute allows UHS to enter a new state and we are looking
forward to expanding the facility and growing services for Wyoming residents.
The acquisition of the Center for Change is an excellent complement to our
existing specialty focus in the behavioral health division."
UHS also announced that the Board of Directors has elected Ms. Osteen a
Senior Vice President of the Company. Alan B. Miller, Chairman of the Board,
President and CEO cited her "outstanding leadership in directing the most
extensive and successful behavioral health network in the nation." The
behavioral health division now numbers 105 facilities with 6,322 beds and
includes 48 hospitals and outpatient facilities, 31 residential treatment
centers, 23 overnight and day schools and 3 detention centers.
Universal Health Services, Inc. is one of the nation's largest hospital
companies, operating acute care and behavioral health hospitals, ambulatory
surgery and radiation centers nationwide. It acts as the advisor to Universal
Health Realty Income Trust, a real estate investment trust (NYSE: UHT).
Certain statements in this release may constitute forward-looking
statements and are subject to various risks and uncertainties as discussed in
the Company's filings with the Securities and Exchange Commission. The
Company is not obligated to update these forward-looking statements even if
the Company's assessment of these risks and uncertainties changes.
For additional information on the Company, visit our web site:
http://www.uhsinc.com.
SOURCE Universal Health Services, Inc.
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